• 2020 July 9 09:38

    MABUX: Bunker market this morning, July 09

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    Oil prices settled higher on Wednesday as U.S. gasoline consumption showed signs of a recovery, but price gains were limited by rising crude inventories and an increase in coronavirus infections.

    Both benchmarks were on track for a fourth session of daily percentage changes of less 1% in either direction, shrugging off news that OPEC member Libya was adding to global supplies by reopening its Es Sider oil terminal for exports.

    U.S. gasoline inventories tumbled by 4.8 million barrels as demand climbed to 8.8 million barrels per day, the highest since March 20, according to data from the Energy Information Administration released Wednesday.

    Refinery utilization increased by 2% but was still hovering approximately 17% lower than in the same period last year.

    “While a big draw on gasoline in the summertime is healthy, the U.S. is really close to all time record highs in crude oil and distillate storage, which is not as healthy,” said Bob Yawger, director of energy futures at Mizuho.

    U.S. Gulf Coast crude oil stockpiles rose by 5 million barrels to a record high last week, the data showed.

    “The reduction of crude storage held on sea is simply shifting to land at this point which is not necessarily a bearish omen,” said Tony Headrick, energy markets analyst at CHS Hedging.

    The latest surge in U.S. coronavirus cases, taking the U.S. total above 3 million, has reduced hopes for a swift recovery in oil demand which has been hammered by the global lockdowns to prevent the virus spreading.

    Key ministers in OPEC+, which includes OPEC, Russia and other producers, were due to hold talks next week about their deal on record output cuts that will run to the end of July and then start tapering.

    Today morning oil prices drifted lower for a start on Thursday as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand. But after a few hours trading the oil price is unchanged, not knowing which way to go.

    The market’s struggling to get strong conviction to the upside since there is mixed evidence on demand.

    A spike in COVID-19 cases across several U.S. states, however, raised the prospect of renewed lockdowns that would likely hold back any sustained recovery in fuel demand. That has kept the benchmark crude contracts in tight ranges this week, although holding above $40 a barrel.

    The market is also in a holding pattern ahead of a meeting on July 15 of the market monitoring panel of the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

    Together called OPEC+, the producers could decide to pare or extend their record 9.7 million bpd supply cut from August.

    The panel has been pressing OPEC+ over-producers, such as Iraq and Nigeria, to improve their compliance with the curbs.

    Oil Future close 8th July, 2020

    Brent crude:

    $43.29 (+0.21)

    Front Month contract with delivery Sep

    Light crude (WTI):

    $40.90 (+0.28)

    Front Month contract with delivery Aug

    Gasoil ARA;

    $ 367.75 (-2.75)

    Front Month contract with delivery Jul

    NY Harbor Ulsd:

    $ 379.90 (-2.86)

    Front Month contract with delivery Aug

     

     

     

    The Oil Market is trading at GMT 05.46: Brent -2 cents and WTI -5 cents
    Oil Future crude oil, Brent and WTI closed slightly upward and the MGO closed slightly down. - Expect bunker prices little change also today.

    Brent crude:

    $43.29 (+0.21)

    Front Month contract with delivery Sep

    Light crude (WTI):

    $40.90 (+0.28)

    Front Month contract with delivery Aug

    Gasoil ARA;

    $ 367.75 (-2.75)

    Front Month contract with delivery Jul

    NY Harbor Ulsd:

    $ 379.90 (-2.86)

    Front Month contract with delivery Aug




2020 August 13

20:58 Rosmorrechflot promotes Stanislav Uryupin to Port of Novorossiysk Harbourmaster
18:31 Glavgosexpertiza gives nod to Sovetskaya Gavan LPG terminal project
18:06 Global Industry Alliance issues Just-In-Time Arrival Guide
17:36 HMM Rotterdam en route to Rotterdam
17:18 Ust-Luga Multipurpose Reloading Complex half-year cargo volume down 9% year-on-year
17:06 The operational situation in the port of Beirut is back to normal
16:48 TCSP Group half-year throughput grows 11.4%
16:31 Kalmar service expertise to enhance safety, performance and productivity on WWO’s American routes from Manzanillo International Terminal in Panama
16:12 CMA CGM announces PSS from North Europe (except France) to Australia & New Zealand
15:26 Minister for Regional Growth and Local Government opens multi million pound bulks terminal at Teesport
15:21 St. Petersburg set to create infrastructure for all-electric passenger vessels
14:39 First supply of bunker fuel by Gazpromneft Marine Bunker to the brand new cruise ship Mustai Karim
13:52 MABUX releases weekly review of global bunker market
13:21 VIKING delivers first of ambulance boat trio for Hellenic Coastguard
12:32 Grain exports via Krasnodar Krai based seaports in Jan-Jul jump 32%
12:14 Port of Oakland import cargo volume grew 6.4 percent in July
11:33 MacGregor receives EUR 18 million RoRo orders from Japan
10:52 Australia authorities issue fumigation requirements for the 2020/2021 high risk season
10:17 Sea Port of St. Petersburg half-year cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

2020 August 12

18:57 Risavika LNG index for September up by 8.9 % week on week
18:27 Andreas Rieckhof new Chairman of Hamburg Messe und Congress GmbH Supervisory Board
18:08 At the three Hamburg container terminals throughput volume down 12.0 % in H1 2020
18:07 Sri Lanka Ports Authority assures safe handling of dangerous cargo under UN regulations
17:47 Rosmorport’s Azov-Black Sea branch adds TSHD Sommers to its fleet
17:43 Boluda Towage Europe takes on two new tugs from Damen Shipyards Group
16:49 Investors set to inject in excess of RUB 19 bn in federal port infrastructure facilities development
15:44 MoD eyes placing more orders for the Steregushchiy class corvettes with Amur Shipyard
15:17 Joint R&D Starts for Use of Ammonia in Marine Transportation to Reduce GHG Emissions
14:47 CMA CGM announces PSS from Asia to North Europe
14:21 MST wins contract for building 19m high-speed patrol craft duo for the Royal Navy
14:03 MOL issues an update on the Capesize bulker "Wakashio" aground off Mauritius
13:20 Port of Kiel constructs the new port apron
12:01 THE Alliance announces COVID-19 response measures for September 2020
11:57 Northern Sea Shipping acquires the MV Siyaniye Severa
10:36 LNG vessel completes 10,000th Neopanamax transit at the Panama Canal
10:02 Crude futures prices continue upward trend
09:32 Baltic Dry Index as of Aug 11
09:00 MABUX: Bunker market this morning, Aug 12

2020 August 11

18:07 Saigon Newport chooses Kalmar Essential Terminal Tractor for Cat Lai Terminal
17:43 Global Industry Alliance developes Just In Time Arrival Guide
17:36 Maersk Tankers hires Eva Birgitte Bisgaard as its new Chief Commercial Officer
17:00 CMA CGM announces PSS from Asia to North Europe
16:35 NORDEN adds 2 vessels to the existing newbuilding contract with NACKS
16:22 Murmansk Sea Fishing Port’s handled volumes in Jan-Jul dropped 12.7%
15:34 PETRONAS Research joins FASTsubsea’s subsea pump development
15:18 SCF Group's Igor Tonkovidov: Shipowners’ ability to compete with each other will be increasingly determined by their readiness to adopt advanced technologies
14:03 Houlder wins contract for Isle of Man Steam Packet Company’s new purpose-built vessel
13:39 IMO assists in MV Wakashio oil spill response
13:11 Cameron LNG Train 3 begins commercial operation
12:56 Seven-month crude exports via CPC Marine Terminal fell 1.4%
12:29 Port of St. Peterburg Captain releases new allowable drafts in Greater Port St.Petersburg basin
12:05 The Standard Club issues Guidelines for the use of electronic record books (ERBs) under MARPOL
11:08 Port of Ust-Luga based Multipurpose Reloading Complex steps up its efforts to protect the environment
11:04 Transhipment in North Sea Canal ports down by more than 10 percent due to coronavirus crisis
10:31 CSP Abu Dhabi Terminal launches new direct services to Europe and Indian Subcontinent
10:15 MABUX: Bunker market this morning, Aug 11